VSA text indicator download for MetaTrader 5 | Forex indicator download - MT4/MT5 resources

The VSA Text Indicator on the MetaTrader 5 platform is a tool based on the "Volume Spread Analysis" method for analyzing both volume and candlestick behavior simultaneously.

This tool was developed to detect smart money Style . By providing accurate text-based signals on the chart, it can identify key market entry and exit points .

VSA text indicator table

The features of VSA Text Indicator are shown in the table below:

Indicator overview

The Volume Spread Analysis text indicator analyzes price action and volume to accurately detect supply and demand pressure conditions. It will appear as text signals on the chart.

Each signal indicates a specific market condition:

• Upthrust: A failed attempt to break through resistance
• No Demand Bar: Weak demand, low volume
• Stopping Volume: As volume increases, the downtrend stops.
• Reverse Upthrust: Supporting responses to pressure to buy
• No Supply Bar: Insufficient supply at the bottom of the market
• Effort to Move Up: Volume surges
• Downward Effort: Downward Move Comes with Heavy Selling Pressure

Uptrend Conditions

The chart below shows the 4-hour chart of the GBP/CHF currency pair. At the end of a downtrend, volume increases along with price, indicating buyer pressure and a trend reversal .

downtrend conditions

The 4-hour chart of cryptocurrency Zcash (ZEC/USD) shows a downtrend . In this case, the "go hard" signal, falling prices, and increasing volume indicate selling pressure and a selling trade opportunity .

VSA text indicator settings

The following image shows the configurable settings panel for the VSA text indicator:

• Spread Period: The period during which candle spreads are evaluated
• Volume Period: The period during which trading volume is evaluated
• Text Color: Text color
• Size Of Font: Font size
• Prev Candle: Reference candle position

Conclusion

The VSA Text Indicator is based on design volume and price analysis in technical analysis .

By viewing volume and price closing simultaneously, it displays the following signals: Upthrust , No Demand , and Effort to Move Up directly on the chart in text format.